4 unchanged sentences
If we do not effectively manage the risks associated with this currency risk, our revenue, cash flows and financial condition could be adversely affected.
−Removed: Although during 2019 and 2018, we recorded a foreign exchange gain of $321,000 and $165,000, respectively, during 2020 we recorded net foreign exchange loss of $411,000, included as part of other income, net in our consolidated statements of operation.
+Added: Although during 2019, we recorded a foreign exchange gain of $321,000, during 2021 and 2020 we recorded net foreign exchange loss of $434,000 and $411,000, respectively, included as part of other income, net in our consolidated statements of operations.
We incur foreign currency transaction exchange gains and losses due to operations in general.
16 unchanged sentences
While we may apply this program to other currencies, such as the Chinese renminbi, our hedging position is partial and may not exist at all in the future.
−Removed: It may not succeed in minimizing our foreign currency fluctuation risks.
+Added: It may not succeed in minimizing our foreign currency fluctuation
Our primary objective in holding these instruments is to reduce the volatility of earnings and cash flows associated with changes in foreign currency.
20 unchanged sentences
The credit risk in our accounts receivable is mitigated by our credit evaluation process and the geographical dispersion of sales transactions.
−Removed: Two customers accounted for 11% and 10% of our accounts receivable as of December 31, 2020 and three customers accounted for 14%, 13% and 12% of our accounts receivable as of December 31, 2019.
+Added: No customer accounted for more than 10% of our accounts receivable as of December 31, 2021 and two customers accounted for 11% and 10% of our accounts receivable as of December 31, 2020.
As part of our supply chain strategy, we maintain minority investments in privately-held raw material companies located in China either invested directly by us and our subsidiaries or through our consolidated joint venture companies.
9 unchanged sentences
The consolidated financial statements, related notes thereto and financial statement schedules required by this item are listed and set forth beginning on page 68, and are incorporated by reference here.
−Removed: Supplementary financial information regarding quarterly financial information required by this item is set forth under the caption “Selected Quarterly Results of Operations” in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and is incorporated by reference here.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.